What does "dividend" mean in the context of betting?

Question

For example:

Tote - The organisation appointed to receive bets and supply dividends in proportion to the amount of the investment. A body in the UK set up to operate pool-betting on all racecourses.

Answer 1

The dividend is:

The amount that a winning or placed horse returns for every $1 bet by the bettor_{(1) (2) (3)}:

So, in your example, a Tote would distribute returns to applicable bettors.